Pradhan Mantri Fasal Bima Yojna (PMFBY)
By Sandeep nagyaan · 10 Oct 2018
Reference:- to cover damages to crops in wild animal attacks the Union Government has decided under Pradhan Mantri Fasal Bima Yojna in select districts on an experimental basis. In this new provisions Government has amended provisions of crop insurance scheme in consultation with various stakeholders after review of its working for the last two years. New provisions of the scheme have been implemented from October 2018.
New provisions of the scheme:- In PMFBY horticultural crops have been brought under ambit it. 2. Incidents of localised disasters like water logging, land slide, cloud bursts, hailstorms and fire too are brought under scheme. 3.To spend 0.5% of their earnings from annual premium to advertise provisions of the scheme. 4.Crop damages have been proposed in cases of delay in clearing insurance claims.
PMFBY:- Pradhan Mantri Fasal Bima Yojana (PMFBY) had launched In April, 2016, the government of India. With National Agriculture Insurance Scheme (NAIS), Weather-based Crop Insurance scheme and Modified National Agricultural Insurance Scheme (MNAIS). The premium of only 2% to be paid by farmers for Kharif crops, and 1.5% for Rabi crops. commercial and horticultural crops premium for annual will be 5%.
Main objective:- 1. suffering crop loss/damage arising out of unforeseen events it will help to provide financial support of the farmers. 2. To ensure their continuance in farming it will Stabilizing the income of farmers. 3. Ensuring flow of credit to the agriculture sector which contributes to food security.